From Bloomie:
Recent weakness seen in Australian shipments is only a temporary lull on the way to further expansion, analyst Christian Lelong said in a note received on Tuesday. When operations among major Australian producers are back at full strength, and a new mine at Roy Hill opens in a couple of months, the downward pressure will probably resume, he said.
And the chart:
That pretty much covers it. Despite the occasional convulsion around sentiment, the iron ore market is reliably driven by supply and demand.
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